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The Market Is Slowing, So Why Are You Exhausted? | DMAR Market Trends – November 2021
The Market Is Slowing. So Why Are You Exhausted?
Comparatives are funny because they can tell any story you want. Market slowing down? Market still nuts? The idea real estate is hyper-local is at its epitome in times like these. I want to dive into our local numbers and a bit about the economy but let’s start with a story because perspective is everything.
One of our clients this past weekend put in an offer and the listing agent and friend, Maura Putnik, called me and shared the seller side experience. Her $890,000 listing had 80 showings, 18 potential offers – six of those retreated when they heard where the price was headed, 12 written offers of which a few improved their offer, to have that one get the deal. In addition, four agents offered to submit a backup.
If that’s slowing down, now I know why we are all exhausted.
DMAR’s November Market Trends Report show buyers deciding to fight the good fight regardless of rates going up. Active listings dropped back to 3,376, partially due to 13.28% fewer sellers (new listings) and 7.42% more buyers (under contract) than last month. Buyers today have 782 more homes to choose from compared to the hot Spring market, can take an extra day to view the home, and will pay almost 3% less over asking than they did in the Spring. However, compared to last Fall, this market is on fire! We have nearly 1,500 fewer homes to choose from, yet we put the same number under contract for 1.5% more in almost half the time.
So, Let’s Talk Rates. Are They Going Up? Or Down?
The Federal Open Market Committee’s November meeting is happening as we go to print with this month’s Market Trends report. They are expected to announce the much-awaited tapering of $120 billion per month in agency mortgage-backed securities and Treasuries purchases. Powell will undoubtedly emphasize flexibility in his public remarks after the November meeting as the committee is likely to split on what actions to take. However, Fannie Mae, NAHB, NAR, and the MBA are sticking to their forecasts estimating 30-year mortgage rates hit 3.5 to 4% in 2022.
Home prices continue to increase, yet so do rents and the alternatives facing our first-time homebuyers today. And with the potential of rising rates, NOW is the time to jump in.
Want more?
Read the full report here: https://www.theruethteam.com/market-trends/
Nicole Rueth
The Rueth Team of Fairway Independent Mortgage Corporation
750 W Hampden Avenue, Suite 500
Englewood, CO 80110
303-214-6393
www.TheRuethTeam.com
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#DMARStats
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The Earth News | Jammu Front Page Analysis | 27 – 07 – 2025
The Earth News | Jammu Front Page Analysis | 27 – 07 – 2025
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Bridge Collapse to Water Crisis: Asansol की सच्चाई | Must Watch Ground Report I BENGAL ELECTION
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Journalist From the Frontlines Responds to Israel’s Attempt to Assassinate Him on Camera
Steve Sweeney was reporting on the Israeli government’s murder of civilians in Lebanon when the IDF tried to assassinate him on …
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Pune Heatstroke Patients Rise | पुण्यात उष्माघाताच्या रुग्णांची संख्या वाढली | Zee24Taas
Pune Heatstroke Patients Rise | पुण्यात उष्माघाताच्या रुग्णांची संख्या वाढली | Zee24Taas
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Global Trends in FDI and FPI and India’s Position
Visit: https://pscnotes.com Curious about India’s standing in the global FDI & FPI landscape? 🌍 Dive into the latest trends and understand how India is navigating the international economic arena. Discover insights on foreign investment patterns, the role of institutions like the New Development Bank NDB, and India’s significant position as highlighted by the World Investment Report. From SBI’s pioneering international presence to Singapore’s consistent FDI contribution, this analysis unpacks crucial data points for your State PSC & UPSC preparation. Don’t miss out on understanding the dynamics shaping India’s external sector! Unlock comprehensive knowledge and ace your exams. Get the full subject PDF now! — UPSC Current Affairs, State PSC preparation, Indian Economy notes, FDI FPI analysis, External Sector Economy, Global Economic Trends, UNCTAD WIR #PSCNotes #UPSC2025 #IndianEconomy #CurrentAffairs #FDI #FPI #Economics #UPSCPreparation #StatePSC #GlobalTrends #EconomicAnalysis #NDB #UNCTAD #SBI #Singapore #IAS #PCS #UPSC
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